Case filing & court posture: TPI Composites, Inc. and 21 affiliates filed for chapter 11 protection on August 11, 2025, in the U.S. Bankruptcy Court for the Southern District of Texas (Case No. 25-34655). Dkt. 1 The case is jointly administered before Judge Christopher M. Lopez.
Liquidity & financing path: The debtors obtained an $82.5 million DIP credit facility from Oaktree affiliates, comprising $27.5 million in new money and a $55 million roll-up of prepetition debt. Dkt. 73 The court entered the interim DIP order on August 13, 2025, and the final DIP order on October 14, 2025. Dkt. 373
Sale process & bid procedures: The court approved bid procedures on September 30, 2025. Dkt. 288 On December 12, 2025, the debtors designated Vestas Wind Systems A/S as the sole qualified bidder for the equity of TPI Mexico V, LLC and TPI Mexico VI, LLC and certain assets related to TPI Composites India Private Limited, and the auction was canceled. Dkt. 521
DIP milestones & plan timeline: Under the most recent DIP milestone extensions, the disclosure statement order deadline is February 28, 2026, plan confirmation is due by April 10, 2026, and the plan effective date milestone is April 24, 2026.
Current status: The sale hearing for the Vestas transaction (originally set for February 11, 2026) was canceled; a new hearing date has not yet been scheduled. Dkt. 664 The debtors continue to pursue bids for their remaining assets and are negotiating short-term liquidity arrangements with Vestas and GE Vernova. Dkt. 663
